With the edge proffered by its R&D centre, Indian Oil Corporation Ltd (IOC), the over-$70-billion public sector oil giant, is transitioning from an adopter to provider of indigenously developed refinery technology to the world.
Its R&D now has the capability to supply about 90 per cent of the technology needed to set up a modern greenfield refinery.
Two major developments
Meanwhile, the company’s R&D operations are getting strengthened for the future with two major developments. First, it is on the verge of becoming a full-fledged refinery technology player from concept to commercialisation.
Second, its upcoming ₹2,300-crore world-class R&D facility, about 8 km from the existing one in Faridabad, is expected to provide a significant technological edge to IOC not just in its core refinery and lubricants segment, but also in alternative energy areas. Read More